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LOAN CONVERSION.

I.PEB PRESS ASSOCIATION, j

Wellington, September 20.

In reference 10 the Liia Conversion Scheme alluded to m the cahle news of September 18tb. Th; "Post" ttttes that It 1b eimpiy a maturing of arrangements whioh have beeu m preparation foe cotn.vlrae past. Two five per cent lo&n> amounting together to aooot £1,600,000 aro juat about falling due, aud It h*a oeen arranged that they Biull be converted into * uQir 3| per c m isaue. The Bank of Eaglanu h»i undertaken to float a new loan at 97, but & prlvtta letter received by Dr Newman from a membar of the Legislature who is now In London states that it 1b believed it will be got off »t more than par. Judging from present feeling about the colony 'a atook, tbe oouveroloo. will reiuit tn a clear saving to the colony of about £24,000 ■ year; and other loats will mature m ouurto of the next iwo or three years whioh oan be similarly operated upon.

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